NPORT-EX 2 motley100.htm NPORT-EX

MOTLEY FOOL 100 INDEX ETF
  
SCHEDULE OF INVESTMENTS
  
NOVEMBER 30, 2022 (UNAUDITED)
  

      
NUMBER OF
        
      
SHARES
    
VALUE
  
Common Stocks — 99.9%
            
Aerospace & Defense — 0.2%
            
TransDigm Group, Inc. (United States)
    
1,234
    
$
775,569
  
Air Freight & Logistics — 0.3%
                
FedEx Corp. (United States)
    
5,819
      
1,060,338
  
Automobiles — 3.4%
                
Tesla, Inc. (United States)*
    
69,645
      
13,559,882
  
Banks — 2.4%
                
JPMorgan Chase & Co. (United States)
    
66,166
      
9,142,818
  
SVB Financial Group (United States)(a)*
    
1,333
      
308,963
  
               
9,451,781
  
Beverages — 0.3%
                
Monster Beverage Corp. (United States)*
    
11,750
      
1,208,605
  
Biotechnology — 2.6%
                
Amgen, Inc. (United States)
    
11,925
      
3,415,320
  
Biogen, Inc. (United States)*
    
3,244
      
989,971
  
Gilead Sciences, Inc. (United States)
    
27,937
      
2,453,707
  
Moderna, Inc. (United States)(a)*
    
8,722
      
1,534,287
  
Vertex Pharmaceuticals, Inc. (United States)*
    
5,739
      
1,815,820
  
               
10,209,105
  
Capital Markets — 3.2%
                
Charles Schwab Corp., (The) (United States)
    
41,951
      
3,462,636
  
CME Group, Inc. (United States)
    
8,021
      
1,415,706
  
Goldman Sachs Group, Inc., (The) (United States)(a)
    
7,248
      
2,798,815
  
Intercontinental Exchange, Inc. (United States)
    
12,447
      
1,348,135
  
Moody's Corp. (United States)(a)
    
4,098
      
1,222,310
  
S&P Global, Inc. (United States)
    
7,376
      
2,602,253
  
               
12,849,855
  
Chemicals — 0.6%
                
Ecolab, Inc. (United States)(a)
    
6,416
      
961,309
  
Sherwin-Williams Co., (The) (United States)
    
5,745
      
1,431,539
  
               
2,392,848
  
Commercial Services & Supplies — 0.8%
                
Cintas Corp. (United States)
    
2,309
      
1,066,250
  
Copart, Inc. (United States)*
    
10,097
      
672,056
  
Waste Management, Inc. (United States)
    
9,216
      
1,545,708
  
               
3,284,014
  
Consumer Finance — 0.7%
                
American Express Co. (United States)
    
16,778
      
2,644,045
  
Diversified Financial Services — 3.9%
                
Berkshire Hathaway, Inc., Class B (United States)*
    
49,193
      
15,672,890
  
Electric Utilities — 0.9%
                
NextEra Energy, Inc. (United States)
    
43,795
      
3,709,437
  
Entertainment — 2.4%
                
Activision Blizzard, Inc. (United States)
    
17,555
      
1,298,192
  
Electronic Arts, Inc. (United States)(a)
    
6,276
      
820,776
  
Netflix, Inc. (United States)*
    
9,921
      
3,031,163
  
ROBLOX Corp. (United States)(a)*
    
13,364
      
424,574
  
Walt Disney Co., (The) (United States)*
    
40,630
      
3,976,458
  
               
9,551,163
  
Equity Real Estate Investment Trusts (REITs) — 1.5%
                
American Tower Corp. (United States)
    
10,395
      
2,299,894
  
Crown Castle International Corp. (United States)
    
9,722
      
1,374,982
  
Digital Realty Trust, Inc. (United States)
    
6,393
      
718,957
  
Equinix, Inc. (United States)
    
2,047
      
1,413,761
  
               
5,807,594
  
Food & Staples Retailing — 1.3%
                
Costco Wholesale Corp. (United States)
    
9,882
      
5,328,868
  
Health Care Equipment & Supplies — 1.7%
                
Align Technology, Inc. (United States)*
    
1,779
      
349,858
  
Becton Dickinson and Co. (United States)
    
6,402
      
1,596,275
  
DexCom, Inc. (United States)*
    
8,754
      
1,017,915
  
IDEXX Laboratories, Inc. (United States)*
    
1,866
      
794,673
  
Intuitive Surgical, Inc. (United States)(a)*
    
7,967
      
2,154,197
  
ResMed, Inc. (United States)
    
3,299
      
759,430
  
               
6,672,348
  
Health Care Providers & Services — 4.3%
                
CVS Health Corp. (United States)
    
29,262
      
2,981,213
  
HCA Healthcare, Inc. (United States)(a)
    
6,402
      
1,537,889
  
McKesson Corp. (United States)
    
3,233
      
1,233,971
  
UnitedHealth Group, Inc. (United States)
    
20,853
      
11,422,439
  
               
17,175,512
  
Health Care Technology — 0.2%
                
Veeva Systems, Inc., Class A (United States)*
    
3,510
      
668,164
  
Hotels, Restaurants & Leisure — 2.0%
                
Airbnb, Inc., Class A (United States)(a)*
    
14,294
      
1,459,989
  
Booking Holdings, Inc. (United States)*
    
895
      
1,861,108
  
Chipotle Mexican Grill, Inc. (United States)*
    
623
      
1,013,596
  
Marriott International, Inc., Class A (United States)
    
7,235
      
1,196,307
  
Starbucks Corp. (United States)
    
25,579
      
2,614,174
  
               
8,145,174
  
Industrial Conglomerates — 0.7%
                
3M Co. (United States)
    
12,352
      
1,555,981
  
Roper Technologies, Inc. (United States)
    
2,385
      
1,046,753
  
               
2,602,734
  
Insurance — 0.3%
                
Aflac, Inc. (United States)
    
14,087
      
1,013,278
  
Interactive Media & Services — 9.2%
                
Alphabet, Inc., Class C (United States)*
    
289,539
      
29,373,731
  
Facebook, Inc., Class A (United States)*
    
59,898
      
7,073,954
  
               
36,447,685
  
Internet & Direct Marketing Retail — 5.7%
                
Amazon.com, Inc. (United States)*
    
227,045
      
21,918,924
  
eBay, Inc. (United States)(a)
    
12,249
      
556,595
  
               
22,475,519
  
IT Services — 5.6%
                
Cognizant Technology Solutions Corp., Class A (United States)
    
11,702
      
727,982
  
Mastercard, Inc., Class A (United States)
    
21,539
      
7,676,500
  
PayPal Holdings, Inc. (United States)*
    
25,774
      
2,020,939
  
Snowflake, Inc., Class A (United States)(a)*
    
6,990
      
998,871
  
Square, Inc. (United States)*
    
13,120
      
889,142
  
Visa, Inc., Class A (United States)(a)
    
46,112
      
10,006,304
  
               
22,319,738
  
Life Sciences Tools & Services — 0.2%
                
Illumina, Inc. (United States)*
    
3,531
      
770,040
  
Oil, Gas & Consumable Fuels — 0.2%
                
Kinder Morgan, Inc. (United States)
    
50,212
      
960,053
  
Pharmaceuticals — 3.6%
                
Bristol-Myers Squibb Co. (United States)
    
47,593
      
3,820,766
  
Johnson & Johnson (United States)
    
58,602
      
10,431,156
  
               
14,251,922
  
Professional Services — 0.2%
                
CoStar Group, Inc. (United States)*
    
9,062
      
734,384
  
Road & Rail — 1.3%
                
Old Dominion Freight Line, Inc. (United States)(a)
    
2,494
      
754,709
  
Uber Technologies, Inc. (United States)*
    
44,439
      
1,294,952
  
Union Pacific Corp. (United States)
    
13,920
      
3,026,626
  
               
5,076,287
  
Semiconductors & Semiconductor Equipment — 6.4%
                
Advanced Micro Devices, Inc. (United States)*
    
35,866
      
2,784,278
  
Broadcom, Inc. (United States)
    
9,036
      
4,979,107
  
Lam Research Corp. (United States)
    
3,059
      
1,445,010
  
NVIDIA Corp. (United States)
    
55,471
      
9,387,357
  
QUALCOMM, Inc. (United States)
    
24,836
      
3,141,506
  
Texas Instruments, Inc. (United States)(a)
    
20,531
      
3,705,024
  
               
25,442,282
  
Software — 16.0%
                
Adobe Systems, Inc. (United States)*
    
10,414
      
3,592,101
  
Autodesk, Inc. (United States)*
    
4,812
      
971,783
  
Cadence Design Systems, Inc. (United States)*
    
6,114
      
1,051,853
  
Crowdstrike Holdings, Inc., Class A (United States)*
    
5,247
      
617,310
  
Datadog, Inc., Class A (United States)(a)*
    
7,156
      
542,282
  
Fortinet, Inc. (United States)*
    
17,582
      
934,659
  
Intuit, Inc. (United States)
    
6,284
      
2,561,296
  
Microsoft Corp. (United States)
    
166,204
      
42,405,289
  
Palo Alto Networks, Inc. (United States)*
    
6,712
      
1,140,369
  
Salesforce.com, Inc. (United States)*
    
22,337
      
3,579,504
  
ServiceNow, Inc. (United States)*
    
4,504
      
1,875,015
  
Synopsys, Inc. (United States)*
    
3,435
      
1,166,320
  
VMware, Inc., Class A (United States)*
    
9,468
      
1,150,267
  
Workday, Inc., Class A (United States)(a)*
    
5,726
      
961,395
  
Zoom Video Communications, Inc., Class A (United States)*
    
6,696
      
505,079
  
Zscaler, Inc. (United States)*
    
3,240
      
432,378
  
               
63,486,900
  
Specialty Retail — 2.6%
                
Home Depot, Inc., (The) (United States)(a)
    
22,823
      
7,394,424
  
Lowe's Cos, Inc. (United States)
    
13,681
      
2,907,896
  
               
10,302,320
  
Technology Hardware, Storage & Peripherals — 13.4%
                
Apple, Inc. (United States)
    
358,925
      
53,131,668
  
Textiles, Apparel & Luxury Goods — 1.0%
                
NIKE, Inc., Class B (United States)
    
34,959
      
3,834,653
  
Wireless Telecommunication Services — 1.1%
                
T-Mobile US, Inc. (United States)*
    
27,954
      
4,233,913
  
Total Common Stocks (Cost $314,801,252)
            
397,250,568
  
                   
Rights — 0.0%
                
Altaba, Inc. - Escrow Shares (United States)(b)*
    
8,565
      
32,547
  
Total Rights (Cost $8,125)
            
32,547
  
                   
Investments Purchased with Proceeds from Securities Lending Collateral — 8.9%
                
Mount Vernon Liquid Assets Portfolio, LLC, 4.01%
    
35,356,148
      
35,356,148
  
Total Investments Purchased with Proceeds from Securities Lending Collateral (Cost $35,356,148)
            
35,356,148
  
                   
Short-Term Investments — 0.1%
                
U.S. Bank Money Market Deposit Account, 3.50% (United States)(c)
    
220,481
      
220,481
  
Total Short-Term Investments (Cost $220,481)
            
220,481
  
                   
Total Investments (Cost $350,386,006) — 108.8%
            
432,859,744
  
Liabilities in Excess of Other Assets — (8.8)%
            
(35,137,465
)
NET ASSETS — 100.0%
                
(Applicable to 11,925,000 shares outstanding)
          
$
397,722,279
  

*
Non-income producing security.
                
(a)
All or a portion of the security is on loan. At November 30, 2022, the market value of securities on loan was $35,934,298.
  
(b)
Security has been valued at fair market value using significant unobservable inputs as determined in good faith by or under the direction of The RBB Fund, Inc.’s Board of Directors.
As of November 30, 2022, these securities amounted to $32,547 or 0.0% of net assets.
  
(c)
The rate shown is as of November 30, 2022.
                


MOTLEY FOOL 100 INDEX ETF
NOTES TO THE SCHEDULE OF INVESTMENTS
November 30, 2022
(UNAUDITED)

PORTFOLIO VALUATION — Each Fund’s net asset value (“NAV”) is calculated once daily at the close of regular trading hours on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m. Eastern time) on each day the NYSE is open. Securities held by the Funds are valued using the closing price or the last sale price on a national securities exchange or the National Association of Securities Dealers Automatic Quotation System (“NASDAQ”) market system where they are primarily traded. Equity securities traded in the over-the-counter (“OTC”) market are valued at their closing prices. If there were no transactions on that day, securities traded principally on an exchange or on NASDAQ will be valued at the mean of the last bid and ask prices prior to the market close. Fixed income securities are valued using an independent pricing service, which considers such factors as security prices, yields, maturities and ratings, and are deemed representative of market values at the close of the market. Foreign securities are valued based on prices from the primary market in which they are traded, and are translated from the local currency into U.S. dollars using current exchange rates. If market quotations are unavailable or deemed unreliable, securities will be valued in accordance with procedures adopted by the Company’s Board of Directors (the “Board”). Relying on prices supplied by pricing services or dealers or using fair valuation may result in values that are higher or lower than the values used by other investment companies and investors to price the same investments. Such procedures use fundamental valuation methods, which may include, but are not limited to, an analysis of the effect of any restrictions on the resale of the security, industry analysis and trends, significant changes in the issuer’s financial position, and any other event which could have a significant impact on the value of the security. Determination of fair value involves subjective judgment as the actual market value of a particular security can be established only by negotiations between the parties in a sales transaction, and the difference between the recorded fair value and the value that would be received in a sale could be significant. The Funds may use fair value pricing more frequently for securities traded primarily in non-U.S. markets because, among other things, most foreign markets close well before the Funds value their securities, generally as of 4:00 p.m. Eastern time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, government actions or pronouncements, aftermarket trading, or news events may have occurred in the interim. To account for this, the Funds may value foreign securities using fair value prices based on third-party vendor modeling tools (international fair value pricing).
                     
FAIR VALUE  MEASUREMENTS – The inputs and valuation techniques used to measure the fair value of the Fund's investments are summarized into three levels as described in the hierarchy below:
                     
•  Level 1 — Prices are determined using quoted prices in active markets for identical securities.
          
                     
•  Level 2 — Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
                     
• Level 3 — Prices are determined using significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
                     
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
                     
The following is a summary of the inputs used, as of November 30, 2022, in valuing the Fund's investments carried at fair value:

   
TOTAL
    
LEVEL 1
    
LEVEL 2
    
LEVEL 3
    
INVESTMENTS MEASURED AT NET ASSET VALUE^
  
FOOL 100 FUND
                              
Common Stocks
  
$
397,250,568
    
$
397,250,568
    
$
-
    
$
-
    
$
-
  
Rights
    
32,547
      
-
      
-
      
32,547
      
-
  
Investments Purchased with Proceeds From Securities Lending Collateral
    
35,356,148
      
-
      
-
      
-
      
35,356,148
  
Short-Term Investments
    
220,481
      
220,481
      
-
      
-
      
-
  
Total Investments*
  
$
432,859,744
    
$
397,471,049
    
$
-
    
$
32,547
    
$
35,356,148
  

* Please refer to Schedule of Investments for further details.
                  
^ Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments.

At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities. Various factors are considered, such as changes in liquidity from the prior reporting period; whether or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third party pricing services; and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.
                     
Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund's investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.
                     
For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles (“U.S. GAAP”) requires the Fund to present a reconciliation of the beginning to ending balances for reported market values that presents changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3 during the period. Transfers in and out between levels are based on values at the end of the period.  A reconciliation of Level 3 investments is presented only if the Fund had an amount of Level 3 investments at the end of the reporting period that was meaningful in relation to its net assets. The amounts and reasons for Level 3 transfers in and out of each level is disclosed when the Fund had an amount of total Level 3 transfers during the reporting period that was meaningful in relation to its net assets as of the end of the reporting period.
                     
For the period ended November 30, 2022, the Fund had no Level 3 transfers.
              
                     
For more information with regard to significant accounting policies, see the most recent semi-annual or annual report filed with the Securities and Exchange Commission.